2024-07-03 14:20:15 ET
Summary
- In our last coverage, we suggested that investors could start averaging into MAA under $120.00.
- The Q1-2024 results showed a decline in adjusted FFO due to expenses rising faster than revenues.
- We tell you why we expect a lot more pain ahead for the FFO and give you our adjusted entry point.
In our last coverage of Mid-America Apartment Communities, Inc. ( MAA ) we reiterated that the analyst camp was still too optimistic about earnings. That coupled with the recency ZIRP (zero interest rate policy) bias meant that the collective was applying too high a multiple on this stock. We did love the company though and suggested investors could start angling in on any further declines....
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For further details see:
Mid-America Apartments: Supply Hits Sunbelt Hard, More FFO Drop In 2025-2026